Poland Retail August 2019

Poland: Retail sales growth softens in August

September 20, 2019

Nominal retail sales rose 6.0% year-on-year in August, coming in below July’s 7.4% jump but showing resilience nevertheless. August’s expansion was broad-based, with the fastest increases recorded for sales of furniture, radio, TV and household appliances; pharmaceuticals, cosmetics, and orthopaedic equipment; and other retail sales in non-specialized stores. Sales of motor vehicles, motorcycles and parts were the only ones to drop in the month.

Consequently, annual average growth in nominal retail sales dropped to 7.0% in August from 7.3% in July, marking the weakest print in over two years.

FocusEconomics Consensus Forecast panelists see private consumption growing 4.3% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, the panel sees private consumption growing 3.9%.

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